Thorney House, Drake Way, Reading

This superb modern home is available to buy from as little as £76,000 with a 40% share!

This well-presented first floor one-bedroom apartment in Reading offers a spacious and modern layout, featuring a bright open-plan kitchen and living area, a generous double bedroom, and a contemporary bathroom. The design makes the most of the available space, providing both comfort and practicality, while residents’ parking adds an extra level of convenience. The apartment is located in a well-connected part of Reading, with everyday essentials close by including supermarkets, shops, gyms and leisure facilities, as well as Green Park nearby for both business and open green space.

Reading itself offers a vibrant mix of town and city living, with the Oracle shopping centre, riverside restaurants, bars and cafés just a short journey away. For commuters, Reading Station provides fast and frequent services into London Paddington, along with the Elizabeth Line offering direct links across the capital. The property is also ideally positioned for road connections, with the M4 within easy reach giving access to London, Heathrow Airport and the West Country. Altogether, this apartment combines modern living with excellent amenities and strong transport links, making it a great opportunity to secure a home in a thriving location.


PRICING & AFFORDABILITY

Full Market Value: £190,000

40% Share Price: £76,000 (rent £473.88pcm)
Minimum 5% Mortgage Deposit (40% share): £3,800
Approximate Service Charges: £171.15pcm*
Lease: 972 years

ELIGIBILITY

Shared Ownership gives first time buyers and those that do not currently own a home the opportunity to purchase a share in a new build or resales leasehold property. The purchaser pays a mortgage on the share they own and pays rent to a housing association on the remaining share. The combined mortgage and rent is usually less than you’d expect to pay if you bought a similar property outright although this is not a guarantee.

To be eligible for shared ownership you would need to meet the following criteria:

• Your annual household income does not exceed £80,000
• You have a deposit of at least 5% of the share value
• You do not own another property or have your name on the deeds or a mortgage for a property worldwide.
• This will be your only residence.
• You are a permanent UK resident or have indefinite right to remain.

*Service charges are estimated and may subject to change. Rent and service charges will be reviewed annually by your housing provider, usually on 1st April each year.

** This home can also be purchased outright (100% of the value) which is £190,000 and a purchaser would not need to meet the eligibility criteria listed above.